HC Wainwright Issues Pessimistic Forecast for Clene Earnings

Clene Inc. (NASDAQ:CLNN) – Research analysts at HC Wainwright dropped their FY2028 earnings per share estimates for shares of Clene in a research note issued to investors on Monday, March 24th. HC Wainwright analyst J. Pantginis now forecasts that the company will post earnings of $5.26 per share for the year, down from their prior estimate of $5.53. HC Wainwright currently has a “Buy” rating and a $31.00 target price on the stock. The consensus estimate for Clene’s current full-year earnings is ($5.19) per share.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data on Monday, March 24th. The company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($0.46). Clene had a negative net margin of 8,556.77% and a negative return on equity of 1,106.30%. The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.13 million.

Separately, D. Boral Capital restated a “buy” rating and issued a $23.00 price objective on shares of Clene in a research report on Monday. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $55.25.

Clene Stock Down 11.7 %

NASDAQ:CLNN opened at $3.46 on Tuesday. The firm has a market capitalization of $28.81 million, a P/E ratio of -0.66 and a beta of 0.27. The company has a fifty day moving average of $4.52 and a 200 day moving average of $4.89. Clene has a 52 week low of $3.37 and a 52 week high of $9.20.

Hedge Funds Weigh In On Clene

Hedge funds and other institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in Clene in the fourth quarter valued at $69,000. Fullcircle Wealth LLC purchased a new stake in shares of Clene in the 4th quarter worth about $69,000. Renaissance Technologies LLC purchased a new stake in shares of Clene in the 4th quarter worth about $96,000. Parsons Capital Management Inc. RI bought a new stake in shares of Clene during the 4th quarter valued at about $194,000. Finally, Geode Capital Management LLC increased its position in shares of Clene by 52.9% during the fourth quarter. Geode Capital Management LLC now owns 65,112 shares of the company’s stock valued at $346,000 after buying an additional 22,539 shares during the period. Institutional investors own 23.28% of the company’s stock.

About Clene

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug candidate is CNM-Au8, which is being studied in various clinical trials, including a completed Phase 2 platform trial to evaluate the safety and efficacy of CNM-Au8 in patients with amyotrophic lateral sclerosis (ALS); completed Phase 2 proof of concept clinical trial in patients with early symptomatic ALS; completed two open-label investigator blinded Phase 2 clinical trials on the brain's energy metabolites; completed Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a second Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.